EARNINGS PER COMMON SHARE (EPS)

3 Months Ended

Dec. 31, 2012

EARNINGS PER COMMON SHARE (EPS) [Abstract]

EARNINGS PER COMMON SHARE (EPS)

NOTE 4. EARNINGS PER COMMON SHARE ("EPS")

Basic EPS is computed by dividing income (loss) available to common stockholders (the numerator) by the weighted average number of common shares outstanding (the denominator) during the period.  Shares issued during the period and shares reacquired during the period are weighted for the portion of the period that they were outstanding.  Allocated ESOP shares are considered outstanding for earnings per common share calculations as they are committed to be issued; unallocated ESOP shares are not considered outstanding.  All ESOP shares were allocated as of December 31, 2012.  Diluted EPS shows the dilutive effect of additional common shares issuable pursuant to stock option agreements.

A reconciliation of the income and common stock share amounts used in the computation of basic and diluted EPS for the three months ended December 31, 2012 and 2011 is presented below.

Three Months Ended December 31,	2012		2011
(Dollars in Thousands, Except Share and Per Share Data)
Earnings
Net Income	$	3,125	$	3,091
Basic EPS
Weighted average common shares outstanding		5,462,154		3,177,570
Less weighted average unallocated ESOP and nonvested shares		-		-
Weighted average common shares outstanding		5,462,154		3,177,570
Earnings Per Common Share
Basic	$	0.57	$	0.97
Diluted EPS
Weighted average common shares outstanding for basic earnings per common share		5,462,154		3,177,570
Add dilutive effect of assumed exercises of stock options, net of tax benefits		36,346		3,061
Weighted average common and dilutive potential common shares outstanding		5,498,500		3,180,631
Earnings Per Common Share
Diluted	$	0.57	$	0.97

Stock options totaling 141,751 and 460,775 were not considered in computing diluted EPS for the three months ended December 31, 2012 and 2011, respectively, because they were not dilutive.